ES Journal - 2019/2020
- Thread starter Buy1Sell2
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On a day like today, watch for a reversal the day starts out super strong, then turns negative and closes on the lows with 2x normal volume....Not turning bearish, just keep your guard up. Beat them from the inside out.....from the inside out.
Record high on average volume. But with the central banks calling all the shots does it even matter. If markets dip Trump will call Powell to the oval offices and Powell will do what hes told. The FOMC has no more Independence and everyone can see how they kowtow to Trumps every command.
I expect at the FOMC meeting next week they will hint at a rate cut. Not because we need one, but because Trump and his team want one.
I expect at the FOMC meeting next week they will hint at a rate cut. Not because we need one, but because Trump and his team want one.
Made enough today to order my dream pistol.
Just saw this now nenuser ... you'll have to come up with your own plan for taking profits, but +2, 3,4 etc are easy choices depending on volatility, how much room to support/resistance, etc.
In hindsight, of course, I would have taken partials at 37.50/37.75 as there had been a series of high closes at 37.75 (red arrows) and high prints (yellow arrows) at that price. I'd have taken the rest off at the retest of the morning high. Afgain, lest anyone forget, this is in hindsight.
The first ellipse is where I was buying, and I covered in the 37's ... the reason was I am not feeling well ... something hit me this afternoon and I am wiped out. Otherwise I'd have followed my typical plan and held through the pullback and sold MOC (unless 32.50 had broke and price couldn't get back above that price quickly, in which case I have taken my loss).
I think you did a great job spotting that set up - it is very common and while your first entry was a bit early as you said, I too scale in often and did so today because there is no guarantee price will come all the way to your preferred entry level, especially when the NQ is leading the way up. Context is always important to keep in mind - so long as it is the market's context, and not made up context from between your ears.
Nicely done, I'd say
... My entire trading plan is based around that entry and variations of it. If you don't mind a hindsight chart I'll try to mark the whole day so you can see what I look at ... as some crank is sure to come along and tell you - it will do you no good as it is hindsight, but since every chart is hindsight by the time you get it, what's the difference, right? I'll post it ater tonight or tomorrow depending upon how I feel. Like I said, right now I am not feeling so hot.Nice trading!
I have an SVI in 40 for Major. You'll see your gun in 3 years if you're lucky. My ostrich doubts your street cred.
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